“Best Friends” hats by Band of Outsiders, one of the limited edition designer products in the Target + Neiman Marcus Holiday Collection

New York—What just might be retail’s ultimate Odd Couple this holiday season: the high-low gift collaboration between mass merchant Target and high-end specialty retailer Neiman Marcus has been unveiled finally.

The collection, which features 24 American designers—all members of the Council of Fashion Designers of America (CFDA)—will be available Dec. 1 at all Target and Neiman Marcus stores, as well as online at Target.com and NeimanMarcus.com. As part of their partnership, the two retailers also plan to donate $1 million to the CFDA.

By collaborating on the 50-plus product collection (listed below), Neiman Marcus and Target hope to capitalize on what they see as a crossover of shoppers. Neiman Marcus hopes to lure in younger customers and Target sees it as an adding further cache to its “masstige” positioning.

“The excitement surrounding the Target + Neiman Marcus Holiday Collection has been remarkable, and the anticipation continues to build,” said Wanda Gierhart, chief marketing officer at The Neiman Marcus Group. “We have all been waiting for the day when we could finally share and see the collection in its entirety. I suspect that our customers are counting the days until they can shop it, too!”

The partnership between the two retailers is going beyond merchandise to encompass dual marketing, too. Through a first-of-its-kind integration, Target and Neiman Marcus will be the sole sponsors of an upcoming episode of “Revenge,” ABC’s fan-favorite series, on Nov. 11.

Rather than doing commercials, the retailers are working directly with the creative team of “Revenge” to create “original content incorporating the Target + Neiman Marcus Holiday Collection, which will air throughout the November sweeps episode of the hit show.”

According to Jeff Jones, chief marketing officer/executive vice president at Target, the highly unusual partnership between the two retailers begged for an equally distinctive marketing approach for the collection.

“Working with the team at ABC has been invigorating,” Jones said. “We’re confident the November 11 episode of “Revenge” will blow our guests away and, much like our collection with Neiman Marcus, provide an unforgettable element of surprise this holiday season.”

Below what the 24 designers are offering as part of “The Target + Neiman Marcus Holiday Collection”:

Alice + Olivia

Bike, $499.99

Luggage, $179.99

Altuzarra

Double Old Fashioned Glasses (set of 4), $49.99

Shaker, $49.99

Tray, $79.99

Band of Outsiders

Cookie Cutters (set of 5), $29.99

Hats (set of 2), $29.99

Brian Atwood

Sunglasses, $39.99

Leather Gloves (sizes S/M-L/XL), $49.99

Carolina Herrera

Bags by Carolina Herrera

Travel Bags (set of 3), $39.99

Stationery Set (set of 3), $19.99

Derek Lam

Slippers (sizes S-XL), $49.99

Skateboard, $99.99

Diane von Furstenberg

Yoga Mat, $49.99

Jewelry Box, $49.99

Eddie Borgo

Letter Opener, $34.99

Accent Box, $49.99

Jason Wu

Girl’s Solid Dress (sizes 12M-5T), $59.99

Girl’s Printed Dress (sizes 12M-5T), $59.99

Ornaments (set of 3), $49.99

Judith Leiber

Compact Mirror, $59.99

Lela Rose

Dress (sizes 2-14), $99.99

Top (sizes XS-XL), $69.99

Marc Jacobs

Pouch, $69.99

Scarf, $69.99

Marchesa

Girl’s Beaded Dress (sizes XS-L), $99.99

Girl’s Floral Dress (sizes XS-L), $79.99

Oscar de la Renta

Pet Bowl, $29.99

Pet Collar and Leash, $39.99

Tote, $59.99

Philip Crangi

Proenza Schouler’s iPad sleeve

Trinket Box, $69.99

Frame, $49.99

Prabal Gurung

Cape, $79.99

Clutch, $49.99

Proenza Schouler

iPad Sleeve, $39.99

Sweatshirt (sizes XS-XL), $29.99

rag & bone

Flask, $29.99

Shot Glasses (set of 4), $19.99

Men’s Sweater (sizes S-XL), $69.99

Boy’s Sweater (sizes S-XL), $49.99

Robert Rodriguez

Top (sizes XS-XL), $79.99

Dress (sizes 2-14), $99.99

Rodarte

Wrapping Paper, $7.99

Ornament, $19.99

Skaist-Taylor

Faux fur hat by Skaist Taylor

Kid’s Hat (sizes S-M), $39.99

Vest (sizes XS-XL), $79.99

Thom Browne

Men’s Blazer (sizes S-XL), $149.99

Women’s Blazer (sizes XS-XXL), $129.99

Tory Burch

Beverage Container, $24.99

Lunch Box, $19.99

Tracy Reese

Dessert Plates (set of 4), $39.99

Blouse (sizes XS-XXL), $79.99

Since both retailers expect unprecedented demand for the merchandise, they will impose a purchase limits on the limited-edition collection and apply a shortened return policy. Shoppers can buy up to five of the same item per transaction and any returns must be made to the retailer where the product was purchased by Jan. 5, 2013.